Interviews
News Flash
PacSun confirms 21% rise in Q2 net income
12 Aug '05
6 min read
The impact of PacBucks on the Company's consolidated statements of income for the second quarter of fiscal 2005 resulted in a reduction of net sales of approximately $3.2 million, net income of approximately $2.0 million, and earnings per share of approximately 2.7 cents.
Results in the third quarter of 2005 will be increased by the same amounts. The impact of the corrections on the Company's consolidated statements of income for the second quarter of fiscal 2004 resulted in a reduction of net sales of approximately $3.0 million, net income of approximately $1.9 million, and earnings per share of 2.4 cents.
The impact of the corrections on the Company's consolidated statements of income for the third quarter of fiscal 2004 resulted in equally offsetting increases to net sales of approximately $3.0 million, net income of approximately $1.9 million, and earnings per share of 2.4 cents. There is no net impact to full year fiscal 2004 net sales, net income or earnings per share as a result of these corrections.
The impact of the corrections on the Company's consolidated balance sheet at July 31, 2004 resulted in an increase in current liabilities of approximately $1.9 million with a corresponding decrease in retained earnings. Total cash flows from operations for the first half of fiscal 2004 are unaffected by this correction.
The Company will file the corrections to its fiscal 2004 interim financial statements in its quarterly reports on Form 10-Q for the quarter ended July 30, 2005 and a contemporaneous Form 10-Q/A for the quarter ended October 30, 2004.
Results in the third quarter of 2005 will be increased by the same amounts. The impact of the corrections on the Company's consolidated statements of income for the second quarter of fiscal 2004 resulted in a reduction of net sales of approximately $3.0 million, net income of approximately $1.9 million, and earnings per share of 2.4 cents.
The impact of the corrections on the Company's consolidated statements of income for the third quarter of fiscal 2004 resulted in equally offsetting increases to net sales of approximately $3.0 million, net income of approximately $1.9 million, and earnings per share of 2.4 cents. There is no net impact to full year fiscal 2004 net sales, net income or earnings per share as a result of these corrections.
The impact of the corrections on the Company's consolidated balance sheet at July 31, 2004 resulted in an increase in current liabilities of approximately $1.9 million with a corresponding decrease in retained earnings. Total cash flows from operations for the first half of fiscal 2004 are unaffected by this correction.
The Company will file the corrections to its fiscal 2004 interim financial statements in its quarterly reports on Form 10-Q for the quarter ended July 30, 2005 and a contemporaneous Form 10-Q/A for the quarter ended October 30, 2004.
Popular News
Leave your Comments
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
